Chapter outlines. Introduction and preliminary investigation Specimen signature card Married women Pardanashin women Minor account Problems with individual account Death of customer Husband and wife joint account. introduction.
Before a banker opens a new an account the bank should determine the integrity, respectability, occupation, and nature of business.
“ mere rumor would be sufficient for the bank to act upon for instance an announcement in a responsible newspaper”
all person of unsound of mind are disqualified to open account in a bank. Therefore bank should not open account for unsound mind.
may be during relation with bank he become sanity. As soon as banker comes to know that my customer mad, he will stop all debit operation on the account after confirming the information. The entire credit balance of the customer should be placed at the disposal of “manager in lunacy’ appointed by court under lunacy Act 1912
banker authorized according that act, determined the payment of the customers cheque with regard to his insolvency proceeding. When a customer adjudicated a bankrupt, whether on his own petition or on the creditors, his property vests into the official assignee all assets, and banker should refuse to honor the cheque.